Northern Ireland economy grows 2.3% as services sector expands

Economic data released today indicates that production in Northern Ireland increased by 2.3% during the twelve months leading up to June.

This expansion brings the region's output to levels comparable with those of Great Britain.

The growth was primarily powered by manufacturing activities, which contributed significantly to the overall rise.

In contrast, quarterly performance recorded a more modest increase of one per cent.

The services industry, representing the largest component of the local economy, also saw an upward trend over the same period.

While the macroeconomic picture appears robust, some commercial operators are expressing anxiety regarding future financial stability.

Daniel Duckett, who previously ran a patisserie in east Belfast, has recently relaunched his venture through a collaboration with Knott's bakery chain located at Forestside shopping centre.

The new partnership involves staff from both entities working together to serve customers.

Duckett noted that securing orders from major international clients remains a key part of their strategy.

These contracts include agreements with sports organisations such as Manchester United and retail chains like PureGym.

The business operates across multiple markets throughout the European Union, alongside destinations in the United States, Sri Lanka, Maldives, India and Australia.

Workforce numbers have expanded to reach 180 employees.

Despite these operational successes, concerns persist that escalating costs for energy and food could strain profitability in the coming months.